Credicorp Ltd. (NYSE:BAP) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in Credicorp Ltd. (NYSE:BAP) by 2.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 169,349 shares of the bank’s stock after selling 3,827 shares during the quarter. Wellington Management Group LLP’s holdings in Credicorp were worth $30,647,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of BAP. Ritholtz Wealth Management boosted its position in Credicorp by 95.4% in the 3rd quarter. Ritholtz Wealth Management now owns 6,977 shares of the bank’s stock valued at $1,263,000 after buying an additional 3,406 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in Credicorp in the third quarter valued at about $1,737,000. MBB Public Markets I LLC acquired a new stake in shares of Credicorp during the 2nd quarter valued at approximately $770,000. Blue Trust Inc. lifted its stake in Credicorp by 29.0% during the second quarter. Blue Trust Inc. now owns 1,355 shares of the bank’s stock worth $229,000 after purchasing an additional 305 shares during the last quarter. Finally, Carrhae Capital LLP acquired a new position in Credicorp in the third quarter worth $27,974,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Price Performance

Shares of BAP opened at $192.80 on Friday. Credicorp Ltd. has a 12 month low of $124.51 and a 12 month high of $200.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a fifty day moving average price of $188.16 and a 200 day moving average price of $175.23. The company has a market cap of $15.33 billion, a P/E ratio of 11.06, a PEG ratio of 0.65 and a beta of 1.13.

Credicorp Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 23rd were issued a $2.9084 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a dividend yield of 3.8%. Credicorp’s dividend payout ratio (DPR) is presently 53.24%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BAP shares. JPMorgan Chase & Co. increased their target price on shares of Credicorp from $200.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. The Goldman Sachs Group increased their price objective on shares of Credicorp from $143.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th.

About Credicorp

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.